Syngenta Chairman Michel Demaré goes on camera to outline the company’s position on Monsanto’s recent attempt to merge the two companies, saying it would be “totally irresponsible” for the Syngenta board of directors to pursue a merger with Monsanto based on the current proposal.
In the video, released via Syngenta’s website, Demaré repeats his previous statements that Monsanto’s proposal undervalues Syngenta’s prospects and underestimates the significant execution risks, including regulatory and public scrutiny at multiple levels in many countries.
However, he expands on why Syngenta has rejected the proposal, calling it overly-simplistic and saying it raises significant antitrust concerns. He also says that while Syngenta is a global company operating on numerous continents, Monsanto’s seed business is significantly “narrower” and would not be a good for for Syngenta’s overall business strategy. View video below.
